The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-10
A SYNDICATE THAT new OPER-
ATES 10000 MILES
or Track, Including the Jersey Cen.
trail, the Reading, the Rich.
mOnd Terminal
AND THE EAST CRNNRS zee, VIR-
GINA AND GEORGIA
Lines-The Biggest Railroad Deal
on RecOrd-Indlgnant Bal
timOreans.

nounce that the control of the Balti-
m 3rs and Ohio Railroad O mpany has
passed INTO the ha, DIS Il Alfred Sully,
of New York. Negotiations with
President Robert Garrett have been
in pr Jgrsss ioc some time. Iester lay
and late into last night there were i'm
portant meetings relative TO the rams
action. Tod'y Mr.. Sully will be
able TO show in Wall street The written
contract, by virtue OF which Mr.. Gar
re puts HIM In possession. This is
the gre tesi and bids fair TO be the
most inf ion ial railway deal that has
taken place in this country thin
many years. 1t throws other affairs
OF the sort far into the shade
The possibilities OF this new
control are beyond estimation.
b. the requirement of the Ba timore
and Ohio railroad-ihe enc railway OF
the land that hes ever been Consid-
cred out of the MAJ ket-nr. Sully
and his friends became controllers
OF what is probably the most extern
sive railway system in the world. 1t
stretches from New York almost TO the
uttefm0st parts OF the South and far
into the West. Ii Includes the Cen
tral railroad OF New jersey, the Pnila-
delphia and ReadiHg system, the
Richmond Terminal and Richmond
aud Danville properties, the East ZEN
nossee, Virginia and Georgia liner,
the Central railroad OF Georgia, and
now, last OF all, the Baltimore and
Ohio. And OF all these properties,
there Is to be made one great trunk
line with 10000 miles OF track. There
will be unmeasured wonderment In
railway aud financial circles generally
when IL comes TO be known that the
Carrots have really given up their
control OF the Baltimore and Ohio
system. 1t has been family posses
sion it has been a family pride. The
possession was profitable; the pride
was we'll based. But the indications
at this time are that Robert Garrett is
not to sever his connection with the
company. II 10 considered probable
that Mr.. Garrett will even continue in
the presidency. The primary idea
of his father may be much forwarded
by this new deal; now, indeed, does
the Baltimore and Ohio Company be-
come a part-and a most important
part-of Just such trunk line as John
W. Garrett planned and wished for. BY
the tranefer OF the Baltimore and
Ohio control 10 Mr.. Sully and the
synd cate hat is associated with him,
the Baltimore and Ohio practically
sees its lines heightened over 1000
miles in the North and 9000 miles In
the South. And the telegraph war,
this wonderful coup places in Mr..
Sully's hands the power TO settle that,
too
THE srRBRT AND PUBLIC ATTENTION CON-
GENERATED ON THE DEAL
The Evening Post, in its fluancial ar
ticle, says: The attsniion OF the
street and tho general public has been
concentrated upon the ptogress,of the
scheme for the amalgamaiion of hall a
doz4n great railroad properties under
the control OF the Richmond Terminal
syndicate with 30 much skepticism
anout iti success, that even wheE II
was openly and y, sitively stated by
members OF the syndicate that they
had scquired control Of the Baltimore
and ONO fpeculators and Others APP
pareutly waited for further dtve'op-
ments to show the extent OF the whole
scheme before taking much interest in
the market. The prevailing belief is
tn a settlement of The telegra jh war
will be- one of the results OF the Jersey
Central, Reading, b Gilmore and Ohio,
Richmond Terminal combination. IL
il acknowledged that the Baltimore
aud Ohio would like to part with
tie telegraph properly, which in the
present state OF war with the
Western Upion has been continual
loss to the Baltimore and Ohio. The
Western Union people would, Of
course, hold off and talk Ss though
they did not want to buy. But, OF the
other hand, Mr.. Gould Coutrols over
40C0 miles of railroad west of the Mis-.
sis pppi and south OF st Louis. The
system Of roads comes TO tie Miesis-
sippi at two points, namely, at st.
Louis, where II would connect with
the Olio and Mississippi, controlled
b. tue Baltimore and Ohio, and ais >
at Memphis, where IL would connect
with the Richmond Terminal roads,
An Esstern outlet snd fine terminal
facilities in Jersey City for these West
err properties may eventually have
some Influence Ia settling tha tele-
graph war. IL Is the further develop
me q of these possibilities that the
public seemed t. 0e waiting for this
forenoon.
MR. sULLY IETERv IRwED.
Mr., alfred SILLY was applied to by
repcr or Of the EreRiHg Post today
I n some statement in regard to ths
Crcu instant al tepor that a syud cate,
rellesen ed by him, has virtually con-
ciudd negotiation with President
Il nert Ga re,t OF The Baltimore and
OHiD for toe puichsse Of q conlr Hing
iutereat In tina, road a d its depend
encies Mr.. Sally said that he pre-.
ielred to say nothing until he could
state something definite, and that he
wss not yet in position TO do so
Wntn the reporter remarked that he
sup posed the fact Of the pure ase was
no; denied, Mr.. Sully remars ed that
this vas pretty well understood" but
said he was not prepared TO announce
tbs names of the parties concerned OF
theterms oil the agreement.
1t was reported in the street today,
that the price paid by the syndicate
for The Baltimore and Ohio stock was
225, hut a we'll informed and promi'
nent banker said that he had good rea-
GOES to believe that it was not much
over 200.
a lealipg bank PRECEDENT, in com.
meLtng on tbs importance of the 70
p3ted sale, said gha' the railroads
r presented in the purcha.iug comb
nation, or 10 harmony with them
won d have control Of all the aulh,a
ci coal territory in the country.
NJ Alfred Suly is understood ia
r, present TIE inter SIS Of NJ Austin
Cdrbin. Inc Re,dirg, the Psnusyl
vania, the Jersey Central, AID the
New York Central are all understood
TO be parties to the g'eat "desl." A
prominent broker, remarked today